Sacombank has launched a promotion programme called ‘Pay co hoi - Thuong gap boi’ for new customers who register for the Sacombank Pay app and others who introduce the app to relatives and friends, and it offers total prizes of more than VND2 billion (US$87,550).

To run until June 6, the programme offers VND50,000 every day to the first 500 customers who register for Sacombank Pay and successfully top up their mobile phones. A customer is eligible to get the gift only once.

Customers who introduce the app to friends and relatives will get VND50,000 every time someone registers.

The customer with the highest number of referrals will get VND10 million ($437.5) and the next 20 will get VND2 million ($87.6) each.

From March 15 to April 15 Sacombank is also running a promotion programme called ‘Cham xi ngay cho dep gia tot’ with an attractive cashback offer.

When individual customers buy air, train or car tickets or book hotels via Sacombank mBanking (mobile banking) or Sacombank Pay, they will receive a 50 per cent refund (maximum VND200,000).

A customer is entitled to only one refund, and the amount will be transferred to their account/card/Sacombank Pay account.

Since March 1 Sacombank has also been offering free online money transfer for individual customers using Internet Banking, Mobile Banking and Sacombank Pay with a limit of VND10 billion per transaction or per day.

It also waives fees for certain services on Sacombank Pay such as opening accounts with preferred numbers, withdrawing cash using QR code at ATMs, service maintenance, and account management and does not require customers to maintain a minimum balance.

Those using Combo 4.0 will be exempted from issuance and annual fees for payment cards and for account management.

In related news, Sacombank has a promotion programme that refunds 100 per cent of the fees when customers successfully transfer money to Visa cards issued abroad until August 31.

To meet the needs of individuals seeking international money transfer for purposes like studying abroad, settlement abroad, medical treatment, allowances for relatives living abroad, and others, in October last year Sacombank tied up with Visa to offer Visa Direct Outbound, which allows customers to transfer money from their debit cards to an overseas card, making it the first bank in Viet Nam to offer this service.

They can transfer up to $8,000 a month depending on the purpose of the transfer (without a limit on the number of transfers), with the fees being a mere VND100,000

Sacombank was also the first bank in the country to offer inward transfer from abroad through Sacombank Visa debit cards via MoneyGram and Remitly easily, quickly and free of charge.

Once the remitter fills in the recipient's information and Sacombank Visa debit card number, the cardholder receives the money in their card account without having to do anything for authentication and at a competitive exchange rate. — VNS